Contractor and industrial products wholesale buying group AD reported Oct. 31 that its owner-member sales through the first nine months of 2023 reached a new group record of $57.6 billion across AD’s 14 divisions and three countries, up 3% vs. the same period in 2022.
AD noted that 80 new companies joined the group in the year’s first nine months, half of which came via acquisitions by existing members. Of AD’s existing 866 members, 35 were sold to outside entities.
The group went on to report that owner-member same-store sales grew 6% in the nine-month period. By country, same-store sales in the U.S. were up 7%; up 6% in Canada and up 1% in Mexico.
The AD divisions with the highest nine-month growth were Safety at 13%, and Electrical, Industrial and Bearings/PT at 9% each.
“Our multi-industry/multi-country strategy, coupled with our investments in value added programs and services and positive collaboration with our supplier partners propel us forward,” AD Chairman and CEO Bill Weisberg said in a news release.
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